23 December 2011

The Moscow arbitration court has initiated liquidation proceedings for Russian electronics retailer Mir, Rapsi reports. The company was declared bankrupt in April 2010, with a RUB4.6 billion (USD150.8 million) debt owed to 60 creditors. As of late 2009, Mir operated 62 stores in Russia, 16 of which in Moscow were sold in March 2010 to cover company debts. The main shareholders of the company are Alexander and Evgeny Kabanov.